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Avance Technologies Ltd.

BSE: 512149 Sector: IT
NSE: N.A. ISIN Code: INE758A01049
BSE LIVE 10:56 | 09 Dec 0.31 0
(0.00%)
OPEN

0.31

HIGH

0.31

LOW

0.31

NSE LIVE 05:30 | 01 Jan Stock Is Not Traded.
OPEN 0.31
PREVIOUS CLOSE 0.31
VOLUME 302709
52-Week high 0.32
52-Week low 0.23
P/E
Mkt Cap.(Rs cr) 61.44
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.31
Sell Qty 1107182.00
OPEN 0.31
CLOSE 0.31
VOLUME 302709
52-Week high 0.32
52-Week low 0.23
P/E
Mkt Cap.(Rs cr) 61.44
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.31
Sell Qty 1107182.00

Avance Technologies Ltd. (AVANCETECH) - Chairman Speech

Company chairman speech

Dear Shareowners…

The Computer Hardware market is a rapidly expanding sector witnessing continuouschanges and advancements. Progress in the Computer Hardware field has brought about manypositive changes in the urban lifestyle. The computer hardware market includes sectorslike computers peripherals and devices and storage devices. The computer hardwareproducts include Computer Retailing Facsimile Internet Equipment Internet HardwareInternet Server Mobile Computing Mobile Portables Personal Computer Printer CopierMainframe Thin Client and Hard Disk. These sectors have experienced significant growthin the recent years. Further the market expected double digit growth in the coming years.However the Computer Hardware market is expected to face a tough competition in the nearfuture as more features are now being incorporated into Smart-Phones or Business Phones.

Due to increasing demand for tablets netbook smartphones and business phones thepersonal computers and laptops (Ultimately computer hardware) facing tough competitionfrom this. Therefore most of the companies are intending to launch innovativetechnologies with improved functions. This helps them to increase their customer base.Canon Dell IBM and Lenovo are the top companies in the world for computer hardwaremarket which are also going for online sales and marketing.

Rising income levels throughout the world and the ubiquity of computer technology haveincreased demand for industry products particularly in emerging markets. However growingcompetition from tablet devices and mobile phones has eroded demand for traditional PCsworldwide thus limiting growth in the Global Computer Hardware Manufacturing industry. Inthe next five years industry revenue is expected to grow as the industry will benefitfrom broad-based economic growth and greater market acceptance of digital information.Additionally product innovations and growing demand in emerging markets will fuel growth.

The IT industry has emerged as one of the most important industries in the Indianeconomy contributing significantly to the growth of the economy. India is the world'slargest sourcing destination for the information technology (IT) industry accounting forapproximately 52 per cent of the US$ 124-130 billion market.

Indian IT's core competencies and strengths have placed it on the international canvasattracting investments from major countries. The computer software and hardware sector inIndia attracted cumulative foreign direct investment

(FDI) inflows worth US$ 13788.56 million between April 2000 and December 2014according to data released by the Department of Industrial Policy and Promotion (DIPP).

The IT industry of India got a major boost from the liberalization of the Indianeconomy. The structure of the IT industry is quite different from other industries in theIndian economy. The IT industry of India is hugely dependant on skilled manpower.Primarily being knowledge based industry the IT industry of India has reorderedsignificant success due to the huge availability of skilled personnel in India. Theindustry employs about 10 million Indians and continues to contribute significantly to thesocial and economic transformation in the country.

The IT industry has not only transformed India's image on the global platform but hasalso fuelled economic growth by energizing the higher education sector especially inengineering and computer science. India's cost competitiveness in providing IT serviceswhich is approximately 3-4 times cheaper than the US continues to be its unique sellingproposition (USP) in the global sourcing market.

The primary business of your Company is purchase and sale of IT software products .TheCompany has generated its major revenue from sale of IT Products and computer peripheral.As enlisted below

During the year under review your company has been able to generate revenue from saleof Rs.1075875545/- in FY 2014-15 as compared to previous year of Rs. 892363920/-.The operating loss of the company reduced from Rs.33711496/- in FY 20147-15 to Rs.11160247/- in FY 2014-15.

The increase in operational revenue is attributable to increase in income from sale ofIT products and Computer peripheral by 20.3% to Rs. 1065515781 in FY 2014-15 as againstRs.885694138 in FY 2013-14.

Finally I would like to thank all our stakeholders across the country –ourshareholders customers suppliers vendors partners employees for the support extendedto us and I hope to continue to receive your support in the future.

Yours sincerely

Srikrishna Bhamidipati

Managing Director

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